NNPC Seeks Investors to Unlock 10 billion Barrels Deep-Water Resources
Ongoing drive by the Nigerian National Petroleum Corporation (NNPC) to increase Nigeria’s crude oil reserve was taken a notch higher yesterday with the unveiling of multi-billion dollar investment opportunities in the nation’s deep-offshore frontiers at the 10th World Energy Capital Assembly in London, United Kingdom.
Delivering an address at the panel session entitled: Spotlight on Africa”, Group Managing Director of the NNPC Corporation, Dr. Maikanti Baru said that
“globally Nigeria has the highest untapped deep water resource of about 10 billion barrels of oil equivalent, in addition to other vast opportunities in the oil and gas value chain”
The NNPC GMD who was represented at the event by the Group General Manager Corporate Planning & Strategy of the NNPC, Mr Bala Wunti, explained that Nigeria has the largest and one of the most vibrant economies in Africa with lots of potentials, especially in the gas, refining and infrastructure space. More……….
NNPC Clarifies Trans Forcados Pipeline Surveillance Contract
The Management of the Nigerian National Petroleum Corporation (NNPC) has proffered informed perspective on the reported award of oil infrastructure surveillance contract to an indigenous firm, Ocean Marine Solutions for the protection of the strategic 87-kilometre Trans Forcados Pipeline (TFP).
The NNPC in a detailed press release by its Group General Manager, Group Public Affairs Division, Ndu Ughamadu, explained that the decision to assign the TFP surveillance package to Ocean Marine Solutions was reached after consideration of huge losses on TFP and rigorous appraisal of the company’s impressive record of performance on the Bonny-Port Harcourt and Warri-Escravos crude evacuation lines.
The Corporation clarified that the new contract which requires the contractor to pay for any damage to any inch of pipeline under its watch, offers immeasurable benefits to the NNPC, its Joint Venture partners, the host communities and the entire Federation. More……